Scripps refinances up to $1.3B in term loans; new $450M A/R facility and $208M revolver

E.W. SCRIPPS Co

Lenders holding >70% of term loans support exchange; existing B-2 loans due May 2026 will be fully repaid or exchanged for new B-2 due June 2028.
Existing B-3 loans due June 2028 exchanged for new B-2 and new B-3 due November 2029; remaining B-3 subordinated.
New $450M accounts receivable securitization facility (PNC $350M, KKR $100M) to partially repay existing B-2 loans.
New $208M revolving credit facility due July 2027; existing revolver commitments partially retained.
Backstop lenders commit up to ~$547M in new B-2 term loans to cash repay any B-2 not exchanged or repaid via A/R facility.

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